For US Citizens In Israel, Time To Face Up To FATCA
Will Rosenzweig Earlier this year, the Israel Supreme Court extinguished the final hopes of U.S. taxpayers living in Israel of avoiding the onerous obligations of the U.S. Foreign Account Tax Compliance Act (FATCA). In Republicans Abroad in Israel v. Government of Israel, No. 8886/15, the court rejected a constitutional challenge to the effect of the law in Israel.
As a result, Israeli financial institutions have begun reporting their U.S. account holders’ detailed personal and financial information — without client consent — to the Israeli...
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